Schwab Crypto is rolling out spot bitcoin and ethereum trading for selected retail clients through Schwab-linked accounts. The offer includes 24/7 support, education, research, and pricing at 75 basis points on each trade’s dollar value.
Financial giant Charles Schwab announced on May 12 that Schwab Crypto accounts are now being rolled out to retail clients. The first group of clients can trade bitcoin ( BTC) and ethereum ( ETH) at Schwab alongside their other investments, with additional users able to sign up for updates and a chance at early access.
Retail clients will maintain a separate Schwab Crypto account offered by Charles Schwab Premier Bank, SSB. The account links directly to their Schwab brokerage accounts. Charles Schwab Premier Bank will custody client digital assets and handle safekeeping and record-keeping. Paxos will provide sub-custody and trade execution services. At launch, Schwab Crypto includes bitcoin and Ethereum trading, education, research, Schwab Coaching content, and 24/7 phone or chat support. Pricing is 75 basis points on each trade’s dollar value.
Charles Schwab explained in an April press release: “Schwab Crypto will provide direct access to bitcoin and ethereum trading, combined with educational content and experienced professional support all at a great value.”
